By Raul Rodriguez Cota
Sep 12, 2024, 6:40 PM EDT
This September, eligible retirees from the Social Security Administration (SSA) will be eligible to receive payments of up to $4,873.
These payments will go to those who have delayed their retirement until age 70, allowing them to access the maximum amount available.
The second round of payments will be made on September 18 and is for beneficiaries born between the 11th and 20th of the month.
Social Security payments are sent in three rounds each month, based on recipients’ date of birth.
Those born between the 1st and 10th of a month already received their payment on September 11. For those born between the 21st and 31st, the payment date will be September 25.
The Social Security program, established in 1935 under President Franklin D. Roosevelt, was designed to provide a source of income to retired workers, replacing or supplementing their income once they stop working.
These payments are funded by payroll taxes paid by both employers and employees.
To maximize the amount a retiree can receive, the retirement age must be considered.
While those who retire at age 62 can receive up to $2,710 per month, those who delay retirement until age 70 can receive up to $4,873.
Continue reading:
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